The oldest British auction house Christie’s (Christie’s) will take a storage system on the sale and provenance of artworks in a distributed registry. The technical development of the platform will lead Artory company is the author of a special digital register of cultural values. On future cooperation Christie’s announced yesterday on its official website.
The test platform will be held during the autumn sale a private collection of works by American modernists of the 20th century, Barney A. Ebsworth Collection. The stated total cost of lots is $300 million.
Platform Artory incorporate the full name of lot, description, final price and sale date. For each piece of property will be issued a unique digital certificate.
Access your encrypted data will provide a special registration card issued by Christie’s.
Principal officer public relations Kristis Richard Entrup (Richard Entrup) said:
“Our trial is a joint project with the Artory — the first [similar experiment] among the largest auction houses in the world, and he points to the growing interest of our industry to […] secure digital registers on the basis of the blockchain”.
Says Artory, their register is a “secure digitized transaction record, to ensure the veracity of original data and higher efficiency of the process subsequent sale”.
Every year Christie’s auctions holds 350. For the first half of the house handled the sale of $4 billion.